Reassessment Quashed as Section 148 Notice Issued After Six-Year Limitation

Advertisement Raghavan Nambath Menon Vs ITO (ITAT Bangalore) The appeal arose from a reassessment order dated 17.12.2024 passed under sections 147 read with 144C(13) of the Income Tax Act, 1961 for Assessment Year (AY) 2015–16. The assessee, a non-resident, had not filed a return originally on the ground that his Indian income was below the basic exemption limit. Upon receipt of notice under section 148 dated 19.04.2022, he filed a return declaring total income of ₹1,91,920. The reassessment was initiated based on information received through the Insight Portal under the Risk Management...